Poshmark Stock Blasted with Bear Notes on Dismal Forecast

The security has struggled since first going public in January

Digital Content Manager
Mar 12, 2021 at 10:31 AM
facebook X logo linkedin

The shares of Poshmark Inc (NASDAQ:POSH) are down 21.1% at $46.85 at last check, despite the consignment e-tailer reporting a fourth-quarter earnings and revenue beat. What is weighing down the security instead is a disappointing current-quarter outlook, with the company noting that deliveries have struggled due to a harsh winter and Covid-19 restrictions. In turn, at least five analysts handed out price-target cuts for POSH this morning, the most dramatic coming from Cowen and Company to $70 from $88.

The equity has been struggling since first going public in January, with shares dropping to a March 5, all-time low of $44.11. Meanwhile, both the $60 level and 20-day moving average seemed to have emerged as potential ceilings over the last few weeks. In the past month, POSH has lost 31%.  

Analysts are mostly optimistic towards the security, with five of the nine in question carrying a "buy" or better rating, while the remaining four call POSH a tepid "hold." Plus, the 12-month consensus target price of $68.13 is a whopping 40% premium to current levels, indicating more price-target cuts and/or downgrades could be on the horizon.







Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!




Rainmaker Ads CGI